CEVA Logistics and CMA CGM sign new relationship agreement

CMA CGM has been CEVA Logistics’ reference shareholder since its listing on the SIX stock exchange in May 2018. CMA CGM signed a new relationship agreement with CEVA on Wednesday 24 October to reinforce the industrial co-operation between the two companies. All the CEVA shareholders will have the opportunity to benefit from the substantial value creation expected from this co-operation with a commitment to keep the CEVA shares listed.

This agreement will make it possible for CEVA Logistics to accelerate its transformation by:

Bringing CMA CGM’s operational expertise and its experience in corporate transformations to help CEVA achieve its recovery plan faster and more efficiently.

Creating new commercial opportunities: as a leader in the sea transport sector with an international commercial network, CMA CGM will generate new opportunities for CEVA Logistics.

Adding value to the commercial complementarities between CEVA Logistics’ and CMA CGM’s freight management activities: CMA CGM will transfer its freight management activities to CEVA Logistics, thus strengthening the company and creating economies of scale.

Supporting CEVA Logistics’ reorganisation and development strategy: CMA CGM will support additional investments aiming - among other things - at implementing CEVA Logistics’ digital and IT transformation which will stimulate its commercial success and operational efficiency.

This industrial co-operation has received the full support of CEVA Logistics’ board of directors and management. It preserves CEVA Logistics’ assets and identity. It will be in the best interest of the company:

CEVA Logistics’ clients, who will benefit from a broader offering of services.

Its employees, who will participate in the development of a stronger company.

Its shareholders: the industrial co-operation offered by CMA CGM will significantly improve the financial performance of CEVA Logistics. CMA CGM commits to maintain the company’s share listing at the SIX Swiss Exchange and to have a significant free float.

The agreement signed between CMA CGM and CEVA also entails:

A removal of the drag along clause in the relationship agreement previously entered into.

A voluntary public tender offer from CMA CGM, for a value of 30 CHF per share in cash, for the CEVA Logistics shareholders who wish to sell their shares despite the value creation potential from the industrial co-operation with CMA CGM, which will be pre-announced by 30 November 2018 at the latest.

Rodolphe Saadé, Chief Executive Officer of CMA CGM, declared: “We are convinced of CEVA Logistics’ potential. This industrial co-operation will make it possible to accelerate its required transformation and to make it a more profitable and efficient leader in logistics for the benefit of its clients, its employees and its shareholders. It reconfirms CMA CGM as the reference shareholder as well as its long-term partner.”